USDINR December futures has resistance at 75.70 and support at 74.95 - HDFC Securities
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USDINR December futures has resistance at 75.70 and support at 74.95 - HDFC Securities
USDINR
Technical Observations:
USDINR December futures sustained above short term moving averages. The formation still remains bearish with lower highs and lows.
The pair is expected to trade in broad range of 75.70 to 74.70 in medium term.
Momentum oscillator, Relative Strength Index of 14 days period heading north and currently placed at 61.6, suggesting positive momentum.
The overbought condition on hourly chart indication profit booking in coming days.
USDINR December futures has resistance at 75.70 and support at 74.95.
The pair is expected to show downswing in today’s trade following divergence and overbought condition on hourly chart.
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